HC Wainwright Reaffirms Buy Rating for Stoke Therapeutics (NASDAQ:STOK)

HC Wainwright restated their buy rating on shares of Stoke Therapeutics (NASDAQ:STOK) in a research report sent to investors on Tuesday, Benzinga reports. They currently have a $35.00 price target on the stock. HC Wainwright also issued estimates for Stoke Therapeutics’ FY2024 earnings at ($2.51) EPS, FY2025 earnings at ($3.43) EPS, FY2026 earnings at ($2.57) EPS, FY2027 earnings at ($0.90) EPS and FY2028 earnings at $0.17 EPS.

STOK has been the subject of several other reports. Needham & Company LLC restated a buy rating and issued a $22.00 price target on shares of Stoke Therapeutics in a research note on Monday. Wedbush upped their price target on shares of Stoke Therapeutics from $13.00 to $17.00 and gave the company an outperform rating in a research note on Tuesday, March 26th. JPMorgan Chase & Co. lifted their price objective on shares of Stoke Therapeutics from $6.00 to $13.00 and gave the stock a neutral rating in a research note on Tuesday, March 26th. TD Cowen upgraded Stoke Therapeutics from a market perform rating to an outperform rating in a research note on Tuesday, March 26th. Finally, Canaccord Genuity Group boosted their price target on Stoke Therapeutics from $18.00 to $21.00 and gave the company a buy rating in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $20.57.

Stoke Therapeutics Price Performance

NASDAQ:STOK opened at $11.77 on Tuesday. The firm’s fifty day moving average price is $10.30 and its two-hundred day moving average price is $6.72. The company has a market cap of $613.45 million, a P/E ratio of -4.98 and a beta of 0.82. Stoke Therapeutics has a one year low of $3.35 and a one year high of $16.40.

Stoke Therapeutics (NASDAQ:STOK) last released its quarterly earnings results on Monday, March 25th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.62) by $0.02. The company had revenue of $2.80 million during the quarter, compared to the consensus estimate of $3.70 million. As a group, equities research analysts expect that Stoke Therapeutics will post -2.28 earnings per share for the current year.

Insider Transactions at Stoke Therapeutics

In related news, CEO Edward M. Md Kaye sold 11,150 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $6.10, for a total transaction of $68,015.00. Following the sale, the chief executive officer now owns 69,350 shares of the company’s stock, valued at approximately $423,035. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Edward M. Md Kaye sold 11,150 shares of Stoke Therapeutics stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $6.10, for a total transaction of $68,015.00. Following the sale, the chief executive officer now directly owns 69,350 shares in the company, valued at approximately $423,035. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Jonathan Allan sold 5,126 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $13.20, for a total transaction of $67,663.20. Following the completion of the transaction, the general counsel now owns 2,598 shares of the company’s stock, valued at $34,293.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,622,741 shares of company stock worth $41,935,115. Corporate insiders own 11.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of STOK. Lynx1 Capital Management LP acquired a new stake in Stoke Therapeutics during the 3rd quarter valued at approximately $6,738,000. GSA Capital Partners LLP increased its holdings in shares of Stoke Therapeutics by 514.7% during the third quarter. GSA Capital Partners LLP now owns 348,069 shares of the company’s stock valued at $1,371,000 after acquiring an additional 291,443 shares in the last quarter. Birchview Capital LP raised its holdings in shares of Stoke Therapeutics by 147.1% in the 4th quarter. Birchview Capital LP now owns 210,000 shares of the company’s stock worth $1,105,000 after acquiring an additional 125,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Stoke Therapeutics by 9.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 146,076 shares of the company’s stock valued at $576,000 after purchasing an additional 12,478 shares in the last quarter. Finally, Trexquant Investment LP boosted its position in shares of Stoke Therapeutics by 166.9% during the third quarter. Trexquant Investment LP now owns 127,581 shares of the company’s stock valued at $503,000 after buying an additional 79,785 shares during the last quarter.

Stoke Therapeutics Company Profile

Stoke Therapeutics, Inc, an early-stage biopharmaceutical company, develops medicines to treat the underlying causes of severe genetic diseases in the United States. The company utilizes its proprietary targeted augmentation of nuclear gene output to develop antisense oligonucleotides to selectively restore protein levels.